Episode 71 – What Every Cryptocurrency Investor Needs to Know About the Inflation Reduction Act

In this episode, DWealthMuse host Dara Albright and guest Kell Canty, CEO of Ledgible, Crypto Tax & Accounting Software for Professionals, discuss how the Inflation Reduction Act will impact cryptocurrency investors and ways to stay out of the IRS crosshairs. Highlights include:

• Why it’s been so difficult for cryptocurrency investors (and their accountants) to keep track of cryptocurrency transactions;

• Why the ability to track crypto transactions is becoming increasingly paramount;

• What the $45+ billion allocated towards IRS enforcement in the Inflation Reduction Act means to cryptocurrency investors;

• Avoiding the IRS cryptocurrency perjury trap;

• What cryptocurrency investors can do to prepare for any IRS rules that might be retroactive;

• The complexities of taxing NFTs;

• Finding crypto qualified CPAs;

• The lawsuits that may provide insights into future crypto tax regulations.